) agreed to be acquired by Cendant Corp. (CD
) for $16.50 cash per share.
According to press reports, Ford Motor (F
) agreed to settle some lawsuits tied to defective ignition systems. UBS Warburg downgraded the shares on concerns Ford may be headed for a dividend cut and a credit rating downgrade.
Goldman Sachs added Broadcom (BRCM
), Conexant Systems (CNXT
) Microtune (TUNE
) and Qualcomm (QCOM
) to its recommended list.
CNF Inc.'s (CNF
) Emery Worldwide Airlines unit suspended its air carrier operations as part of its agreement with the FAA.
) posted $0.51 vs. $0.59 3Q EPS as more shares offset 42% sales rise and thinks Q4 EPS will be better than Q3.
TTI Team Telecom (TTIL
) posted $0.28 vs. $0.19 Q2 EPS on a 43% revenue rise, and sees ongoing growth in the second half of 2001 and 2002.
UBS Warburg upgraded Xerox Corp. (XRX
) to buy from hold.
Donaldson Co. (DCI
) sees better than expected $269.7M Q4 revenues. S&P upgraded to accumulate from hold. Robert Baird plans to raise fiscal 2001 and fiscal 2002 EPS estimates.
ABN Amro downgraded E.Piphany (EPNY
) to hold from add on macroeconomic weakness.
SG Cowen maintains strong buy on Mediacom Communications (MCCC
). First Union reiterates strong buy.
Peabody Energy (BTU
) sees 5%-10% calendar 2001 EBITDA growth,
and 40%-50% calendar 2002 growth, citing higher prices on
Appalachian and Powder River Basin sales and increased sales
Talks between Western Resource (WR
) and Public Service Co. of New Mexico, to modify a transaction agreement, have discontinued.
JP Morgan cut estimates on Charles Schwab (SCH
S&P downgraded AOL Time Warner (AOL
) to accumulate from buy and believes the company may have trouble reaching its Q3 revenue estimate.
) and Roche (SGP
) are in a cross-licensing deal that settles all patent disputes relative to both companies peginterferon products.
According to a press report, AT&T (T
) executives held meetings with Microsoft and Disney in efforts to court potential suitors and partners for its cable-TV business. Executives are trying to start a bidding war for AT&T Broadband three weeks after Comcast's.
As result of customer bankruptcy filings in early August, Alcoa Inc. (AA
) says its Q2 earnings have been revised to $421M from $429M before special charges.
Hologic Inc. (HOLX
) posted a $0.39 Q3 loss vs. a $0.17 loss as higher costs offset a sharp revenue rise. The firm set a restructuring plan including a 10% cut in its workforce, and will take related Q4 charge of $1.3M.
Goldman reportedly added Intel Corp. (INTC
) to its recommended list, and upgraded other chips.
IGEN International (IGEN
) trading was halted on Friday, and the company says a federal court granted more breach-of-contract judgments in favor of IGEN against Roche Diagnostics. The judgments in IGEN's favor could lead to awards of monetary damages to IGEN.
APA Optics (APAT
) received notice from a customer canceling a $500,000 order for the company's 16 channel, 50 Gigahertz (GHz) spacing dense wavelength division multiplexer/demultiplexer (DWDM) components.
WGL Holdings (WGL
) restated $1.44 Q2 EPS to $1.33, and its $0.12 Q3 loss to a $0.14 loss, citing an accounting error on the cost of gas. WGL reduced fiscal 2001 EPS to $1.88-$1.98 from $2.00-$2.10, but reaffirms $1.85-$1.95 fiscal 2002 guidance.
Donaldson Co. (DCI
) sees better than expected $269.7M Q4
Cerus Corp. (CERS
) filed a shelf registration statement for
sale of up to $300M of stock and debt securities.
RF Micro Devices (RFMD
) adopted a shareholders' rights plan.